Some 77% of UK consumers found limited availability of stock was the biggest irritation with shopping in bricks-and-mortar stores on Valentine's Day, according to research from Vista Retail Support.
Retail Critical Issues
These Critical issue articles relate to strategy, legislation, technology, best practice and some of the most challenging business topics in the world of retail information technology. The articles in this section have been contributed by leading vendors, industry leaders, research analysts, trade associations and consultancies. This collection of articles cover a variety of topics relating to IT equipment, hardware & software being used in a wide variety of retail and retail supply chain environments across Europe. They look at market trends, improvements in technology and some thought provoking comment on all aspects of optimising and improving efficiencies in store and across retail supply chains.
How to save the British high street
Feb 27, 2018
By Declan Kennedy, CEO at StitcherAds.
Another Christmas passes and another set of retail spending figures make grim reading for bricks and mortar retail stores.
Over a third of small businesses have not yet started preparing for the introduction of the General Data Protection Regulation – FSB research
Feb 27, 2018
Federation of Small Businesses (FSB) research shows that over a third (33%) of small businesses have not yet started preparing for the introduction of the General Data Protection Regulation (GDPR) while a further third (35%) are only in the early stages of preparations.
Automated parcel delivery – the future of last mile
Feb 27, 2018
By Matthew Robertson, Co-CEO NetDespatch.
I read a particularly interesting article this week. It focused on technology and the changing face of delivery. Paragraph after paragraph it waxed lyrical about how consumers were finally starting to embrace new forms of delivery, such as drones and autonomous vehicles, and argued that with robotic drivers no longer limited to our TV screens, soon enough our science-fiction dreams would become a reality.
The nation’s bad shopping habits highlighted in study
Feb 27, 2018
A new study has highilghted the most common bad shopping habits exhibited by customers across the UK, with putting items back in the wrong place topping the list.
Retail rut? Only 50% of UK retailers have a digital strategy in place despite consumer demand
Feb 19, 2018
Almost half (46 percent) of British consumers believe Augmented Reality (AR) will positively impact retail, with Virtual Reality (VR) close behind (22 percent), yet only 50 percent of retailers have a digital strategy to implement these technologies according to Fujitsu's Tech in a Transforming Britain Report.
Leading retailers come together for Big Plastics Debate
Feb 19, 2018
Coca Cola, Co-Op, Asda, Marks & Spencer and Iceland will come together under one roof for the first time at Packaging Innovations 2018, to talk about the UK's hottest topic – plastics in packaging.
One fifth of Brits would use a robot gift generator to choose the right Valentine's gift
Feb 19, 2018
It's Valentine's Day, and if you've been stressing about what to buy your other half, the results of the latest survey from the folks at InternetRetailing EXPO, Europe's leading event for digital and multichannel retail (21st-22rd March 2018, NEC), may be of interest to you.
Are UK shoppers falling out of love with the internet?
Feb 19, 2018
Home delivery expert ParcelCompare says todays ONS retail sales figures for January show online growth slowing to 9.1% - down from 19.2% last January.
Some 73% of UK shoppers have experienced online packages that have gone missing
Feb 13, 2018
A new report has found that UK shoppers also suffer disproportionately from late or failed deliveries, with 73% affected, compared with just 66% of shoppers from the US.
Critical issues:
The retail industry is facing a number of critical issues including:
- The rise of e-commerce: Online shopping has been growing rapidly in recent years, and it is now a major threat to traditional brick-and-mortar retailers. Online shopping has been growing steadily for years, and the COVID-19 pandemic has accelerated this trend. As a result, many brick-and-mortar retailers are struggling to compete.
- The need for omnichannel customer experience: In order to compete with e-commerce retailers, traditional brick-and-mortar stores need to offer a seamless omnichannel customer experience. This means that customers should be able to shop online, in-store, or through a combination of both channels, and have a consistent experience regardless of how they choose to shop.
- The need for data-driven decision making: Retailers need to use data to make better decisions about everything from product assortment to pricing to marketing. This means collecting and analyzing data from a variety of sources, including customer transactions, website traffic, and social media activity.
- The need for a strong workforce: The retail industry is facing a labor shortage, as many retailers are struggling to attract and retain qualified workers. This is a major challenge, as a strong workforce is essential for providing excellent customer service and meeting the demands of the ever-changing retail landscape.
- The need to stay ahead of the competition: The retail industry is constantly evolving, and retailers need to be able to adapt quickly to new trends and technologies. This means being open to change and being willing to invest in new initiatives.
In addition to the challenges mentioned above, the retail industry is also facing a number of other threats, including:
- Cybersecurity threats: The retail industry is a major target for cyberattacks, as retailers collect and store a large amount of customer data. Retailers need to take steps to protect their data from cyberattacks, such as implementing strong security measures and educating employees about cybersecurity threats.
- Regulatory compliance: Retailers need to comply with a variety of regulations, such as those related to data privacy, product safety, and labor laws. Failure to comply with these regulations can result in significant fines and penalties.
- Sustainability: Consumers are increasingly demanding that retailers adopt sustainable practices. Retailers need to find ways to reduce their environmental impact and improve their sustainability practices.
In addition to these critical issues, the retail industry is also facing a number of other challenges, such as:
- The increasing cost of doing business: The cost of rent, labor, and inventory is all rising, making it more difficult for retailers to make a profit.
- The threat of cybercrime: Retailers are increasingly vulnerable to cyberattacks, which can lead to data breaches and financial losses.
- The changing regulatory landscape: Retailers need to stay up-to-date on the latest regulations, which can be complex and time-consuming.
- The growth of artificial intelligence (AI): AI is already being used in the retail industry to automate tasks, personalize the shopping experience, and predict customer behavior. As AI continues to develop, it is likely to have a profound impact on the retail industry.
- The changing demographics of the customer base: The demographics of the global population are changing, and retailers need to adapt their strategies to reach these new customers.
The retail industry is constantly evolving, and retailers need to be prepared to adapt to change in order to survive and thrive. The critical issues discussed above are just a few of the challenges that retailers will face in the years to come. By understanding these challenges and developing effective strategies to address them, retailers can position themselves for success in the future.
